Perella Weinberg Partners (NASDAQ:PWP) Given New $27.00 Price Target at Keefe, Bruyette & Woods

Perella Weinberg Partners (NASDAQ:PWP) had its price target dropped by research analysts at Keefe, Bruyette & Woods from $28.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 18.94% from the company’s current price.

Separately, JMP Securities increased their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Trading Up 2.4 %

PWP stock traded up $0.53 on Tuesday, hitting $22.70. The company had a trading volume of 103,230 shares, compared to its average volume of 660,961. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of -9.58 and a beta of 1.58. The stock’s 50-day simple moving average is $24.49 and its 200 day simple moving average is $20.90. Perella Weinberg Partners has a 12-month low of $10.73 and a 12-month high of $26.62.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The company had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year.

Insiders Place Their Bets

In related news, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $7,358,173.92. Following the completion of the transaction, the chief executive officer now owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the sale, the president now directly owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 43.53% of the company’s stock.

Institutional Trading of Perella Weinberg Partners

A number of large investors have recently made changes to their positions in PWP. Intech Investment Management LLC bought a new position in shares of Perella Weinberg Partners during the third quarter valued at approximately $197,000. PDT Partners LLC bought a new position in shares of Perella Weinberg Partners in the third quarter worth about $210,000. Arizona State Retirement System lifted its holdings in Perella Weinberg Partners by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after buying an additional 1,724 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Perella Weinberg Partners in the 3rd quarter valued at about $214,000. Finally, Oppenheimer Asset Management Inc. grew its stake in Perella Weinberg Partners by 17.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock worth $272,000 after acquiring an additional 2,537 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.